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Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index (BDI) has stayed lull at 1,439 points the lowest it’s been since April of 2009 and October of 2008. Still, yesterday, the capesize index lost an additional 0.31%, while the Panamax segment fell by 1.87 percent. The only “survivor” of the market was the smalle handysize segment which yesterday gained 1.05%.
According to Paris-based shipbroker Barry Rogliano Salles (BRS), dry bulk rates kept falling, mainly as a result of weather-related problems affecting the short-term outlook, and newbuilding deliveries the longer-term picture.
“Rising commodity prices indicate there is still good demand for product, which suggests newbuilding deliveries are the main issue affecting rates. After two weeks of 2011, 20 new Capes have been delivered, 9 Panamaxes, 28 Supramaxes, and 21 Handysizes, indicating the pace of delivery is increasing. In the FFA market, 2H 2011 is now trading at around US$21,000 per day compared to US$24,000 six months ago” said the shipbroker.
Regarding the beleaguered Capesize market, it’s been another period of softening rates, with the BCI losing an additional 15% last week, with the Cape 4TC, at just under $9,700, being now below the time charter equivalent for all the other bulk sizes. “Players reported a sharp drop in Australian business, with coal operations still disrupted due to weather factors, and a lacklustre demand for ore. In the period market, it was reported that a 161,000 tonner was taken for 3-5 months at US$13,000 per day.
However the sole one-year charter was signed at a BCI index-linked rate. On Monday however the BCI lost just 5 points, raising hopes among owners that the market may be bottoming out” said the report.
All this freight rate saga has altered things in the second hand sale and purchase market. According to BRS “the recent fall in freight rates has created a gap between Buyers and Sellers when it comes to prices, resulting in a very quiet S&P market. We expect this to last for the next few weeks until maybe after the Chinese New Year. This week's S&P menu is all about ‘age’, as in ‘overaged’, and ‘old age’ etc.
Arcelor Mittal have sold their Panamax ‘Kirti’ (68,000 dwt, built 1986 in Japan) to Chinese buyers for about US$10m. We understand that this is a December 2010 sale and that the vessel is due for SS & DD in April 2011, just after delivery to the buyers.
Excel Maritime of Greece have sold their Handymax ‘Marybelle’ (43,000 dwt, built 1987 in Japan) to Bangladeshi buyers for a price in the region of US$10.8m, which also seems to
be a December 2010 sale. In probably the most active week involving Egyptian interests we note that the National Navigation Co of Egypt have sold their sister Handies ‘Alwadi Al Gadeed’ and ‘Wadi Halfa’ (32,000 dwt, built 1985 in South Korea) for about US$7m each. At the same time Egyptian buyers have reportedly agreed a price in the region of US$6m for the Greek owned ‘Androniki’ (30,000 dwt, built 1984 in Japan) - yielding a nice return for the Seller who purchased the ship back in March 2009 as the ‘Manora Naree’ for US$2.9m from Precious in Thailand” concluded BRS.
In total, Piraeus-based shipbroker Golden Destiny reported 35 sales (including demolition activity) during the course of the previous week. “In the secondhand market, 27 vessels were reported to have changed hands this week equalling a total amount of money invested in the region of US$ 1,3 million, with 6 transactions reported for an undisclosed price. In terms of reported number of transactions, the S&P activity has been marked with a 28.5% positive w-o-w change and a 31% negative change comparable with previous year’s weekly S&P activity. The tanker sector attracted most attention, with an investment capital of $ 658,744 around 50% share of the total invested capital in the S&P secondhand market.
In the demolition market, 8 vessels reported to have been headed to the scrap yards of total deadweight just 310,651, with India attracting most activity. Despite the attractive price levels above 450 $/ldt and even surpassing the 500 $/ldt barrier, the reported transactions in terms of number of vessels heading the scrap yards remains at similar levels of last week. The Greek (but not greek based) presence has been noticed this week in 4 transactions reported in the secondhand and one in the newbuilding market. The preference in the secondhand market was towards the chemical tanker sector and a passenger vessel of 1585 passenger capacity, while the total invested capital was region $ 43 mil. In the newbuilding market the greek presence was noticed in the panamax bulkcarrier sector, with Safe Bulkers announcing to have contracted the subject vessel at region $ 41.7 mil” said Golden Destiny.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
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